PPP Loan Data — Top Credit Consulting LLC, Passaic, NJ
Top Credit Consulting LLC
Entity: Limited Liability Company (LLC)
Location: Passaic, NJTweet This • Search All PPP Data
Top Credit Consulting LLC is a limited liability company (LLC) located at 198 Lexington Ave in Passaic, New Jersey that received a Coronavirus-related PPP loan from the SBA of $46,000.00 in May, 2020.
The company has reported itself as a male owned business, and employed at least three people during the applicable loan loan period.
PPP Loan Information
Loan Status:Ongoing Loan
Lender:TD Bank, National Association
Top Credit Consulting LLC in Passaic, NJ received a Paycheck Protection Loan of $46,000 through TD Bank, National Association, which was approved in May, 2020.
Payroll Estimates Based On SBA PPP Loan Eligibility Formula
Understanding The SBA Formula For Determining PPP Loan Eligibility
Understanding Payroll Estimates Based On PPP Amount
Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Top Credit Consulting LLC's 2019 payroll expenses are estimated to be at least $220,800.
Based on their reported 3 jobs retained, this equals an estimated average yearly compensation of $73,600 per employee1
Reported PPP Proceed Usage:
On the PPP application, Top Credit Consulting LLC reported intending to use the proceeds of their PPP loan for the following expenses:
- Payroll: $46,000
Business Information - Top Credit Consulting LLC in Passaic, NJ
198 Lexington Ave
Passaic, NJ 7055
Specialized Freight (except Used Goods) Trucking, Local
NAICS code 484220
Business Owner Demographics
Ethnicity: Hispanic or Latino
Gender: Male Owned
Veteran Status: Non-Veteran
Business Age: Existing or more than 2 years old
LMI Zone: Y
Rural / Urban: Urban
Similar Companies near Passaic
In the Passaic area, 15 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a PPP loan. These local businesses reported an average of 9 employees (compared to this company's 3) and received an average PPP loan of $101,652 (compared to this company's $46,000).
Similar Nearby Businesses Who Received PPP Funding:
Offsite Construction Solutions LLC
South Street Distribution Corp
Nationwide Communications LLC
The Guest List LLC
Shaffer Trucking Management Corp
Industry PPP Comparison Statistics
Nationwide, 30,684 businesses in the "Specialized Freight (except Used Goods) Trucking, Local" industry received a total of $2.03B in PPP loans. This industry in total received less than 1% of the total PPP funding distributed.
PPP recipients in this industry report an average of 6 employees, 100% higher than Top Credit Consulting LLC's reported 3 employees, and received an average PPP loan of $66,149, 44% higher than this company's loan of $46,000.
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Footnotes & Information
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